Posted February 3, 2011
Snap-on sales up 12.7 percent
Snap-on Incorporated reported fourth quarter sales increased 12.7% to $696.9 million compared to 2009 levels.
Net earnings of $57.9 million, or 99 cents per diluted share, increased $21.3 million from $36.6 million, or 63 cents per diluted share, a year ago.
Full year 2010 sales of $2.62 billion increased 10.9% from prior year levels. Net earnings of $186.5 million for the full year increased $52.3 million from 2009.
Commercial & Industrial Group segment sales of $281.5 million in the fourth quarter increased $35.6 million, or 14.5%, from 2009 levels. Snap-on Tools Group segment sales of $268.2 million in the fourth quarter increased $31.2 million, or 13.2%, from 2009 levels, driven by strong performance in the United States.
